monday.com Ltd. $MNDY Stock Holdings Increased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its monday.com stake by 18.1% in the third quarter, purchasing 12,738 additional shares and ending the period with 83,164 shares valued at approximately $6.5 million.
• Institutional investors and hedge funds own 73.7% of monday.com, while insiders hold 22.3%; Director Aviad Eyal separately sold 2,000 shares for about $200,080 under a pre-arranged trading plan.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $111.70 price target. monday.com also exceeded quarterly earnings and revenue expectations, reporting $1.48 EPS and $364.62 million in revenue.

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,164 shares of the company's stock after purchasing an additional 12,738 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.16% of monday.com worth $6,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in monday.com in the third quarter valued at $201,000. Signaturefd LLC boosted its holdings in shares of monday.com by 28.3% during the third quarter. Signaturefd LLC now owns 4,469 shares of the company's stock valued at $351,000 after acquiring an additional 987 shares during the period. Quadrant Capital Group LLC bought a new position in shares of monday.com during the third quarter worth about $235,000. Sequoia Financial Advisors LLC grew its position in shares of monday.com by 60.2% during the second quarter. Sequoia Financial Advisors LLC now owns 6,312 shares of the company's stock worth $457,000 after acquiring an additional 2,373 shares during the last quarter. Finally, Engineers Gate Manager LP grew its position in shares of monday.com by 29.5% during the second quarter. Engineers Gate Manager LP now owns 38,981 shares of the company's stock worth $2,822,000 after acquiring an additional 8,891 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MNDY. Jefferies Financial Group restated a "hold" rating and issued a $95.00 price target on shares of monday.com in a research note on Monday, August 10th. Capital One Financial downgraded monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a research report on Monday, August 10th. Wolfe Research lowered monday.com from an "outperform" rating to a "peer perform" rating in a report on Tuesday, August 11th. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price objective on shares of monday.com in a report on Tuesday, October 27th. Finally, TD Cowen restated a "buy" rating and issued a $110.00 target price on shares of monday.com in a research report on Tuesday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.70.

Insider Buying and Selling at monday.com

In other news, Director Aviad Eyal sold 2,000 shares of the company's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the sale, the director owned 203,455 shares in the company, valued at $20,353,638.20. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by company insiders.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $95.60 on Friday. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.16 and a beta of 1.14. monday.com Ltd. has a 12 month low of $57.50 and a 12 month high of $210.49. The stock's 50 day moving average price is $90.78 and its 200 day moving average price is $83.99.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The firm had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. During the same period last year, the company posted $1.09 EPS. The firm's quarterly revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts expect that monday.com Ltd. will post 2.34 EPS for the current year.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.

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